Word: ib
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Dates: during 1970-1979
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...have still another trade route: air freight. Pan American's airfreight business via Kennedy Airport was up a third over last October. Prices of some air-freighted goods have risen to cover the added shipping costs: Bloomingdale's, the big Manhattan department store, has tacked 40? per Ib. onto the price of cheese flown in from Europe...
...Gulf Oil, the only known American participant, was represented through a Canadian subsidiary. The cartel existed only from 1972 to 1975, but it cashed in on a bonanza that would make an OPEC oil minister jealous: during those three years, world "yellowcake" prices zoomed from less than $6 per Ib. to about $42, where they have since remained...
Working like a well-functioning percolator, the market forces that drove raw coffee prices to record highs in April are now forcing prices down, down, down. In the past few months, Colombian green coffee has fallen from $3.34 per Ib. to $1.92, 43% below its April peak. Similar drops have taken place for other varieties of coffee...
...down will prices go? Some Brazilian coffee experts say that over the next 18 months or so the price of raw coffee could gradually decline to about $1 per Ib. on the New York market, which would translate into a retail price somewhere in the $2 range, depending upon quality and brand. That is just above what coffee cost before it zoomed off on its great roller-coaster ride...
Some A. & P. stores and other supermarkets will knock about 20? a Ib. off retail prices this week. But because of inflation, only those who drink much stronger stuff expect a return of those $1.46-a-lb. levels of two years...